The Sun. — London, England, 1826-02-18 00:00:00

with reference to the alteration in prices which must result from the change in the currency. Mr. F. PALMER said, that in voting for the amendment, he disclaimed giVing an angry vote. Mr. Secretary CANNING begged it to be understood that; he did not say the vote would be an angry one—for he admit. mined the temper of the Hon. Member's speech—but that it would be so considered out of doors. Mr. HUME said if that could possibly be the effect of his opposition he withdrew it.....(Hear, hear!)—The House then went into Committee. NAVY STIMATS Sir G. CLERK said, that E it now becam E e . his duty to explain Why the present Estimate exceeded that of last year; and he thought he should be able to s a tisfy the Committee that it had been framed upon st principle of strict economy. The lion. .letriber fur Aberdeen bad now, as upon many other occa sions, referred to the report of the Finance Committee of 1817, and to the Navy Estimates of that year. He had not the %lightest hesitation in saying, that the number of seamen em ployed in that year would be wholly inadequate for the neces sary wants of the country 'at present. Owing to the great in crease of our commercial intercourse with the States of South Anletvica,.the Calls upon the Admiralty for an increased force for the protection of commerce on those stations were such I t with the f orce we now h a d t h e y we re u nable to meet.— he House would reccllect that there were no points of the u '"tinent of South Anterica at which vessels were not now trading from this country, some states of which, it should be also recollected, were in such an unsettled condition , that it was absolutely necessary to have a force kept up for the pro tection of mercantile' property. This increase of commercial intercourse with South America had led every other Maritime Power to augment its naval force in those quarters. For the same reason it was necessary to keep up a considerable force in the Mediterranean, on account of the war between the Greeks and the Turks. It was also necessary . to have a great force About the Spanish West Indian Colonies, to keep down that piratical Sp ir it w hi c h so muc h interrupted our commerce a short !tinge ago, and which,' if our forces were reduced, was ready Hain to recommence that horrible system of depredations. the was also a considerable force required for putting down la_e traffic in s l aves , i n f ur th era nce of the decision of that House. .n the Committee considered all these calls upon the Naval Service, he thought-they would not think the proposed establishments too great to answer them.. He had to propose for the present yeArean Increase. of 1000 men, who were to be employed in assisting the Lest India Company in the prosecu tion of the Burmese war. An 'arrangement had accordingly been entered into, by which the East India Company were to "Pay to the public the sum of '60,000/. being the additional expence of these men. The Estimate of this year would shew an excess over the last of 1110,000/. The causes of this encrease w ere, first, this addition of 1,000 men, and then the expense of victualling the Navy, which; from the rise in prices would be increased since last year from sixteen to twenty per cent. ere ating an additional expellee of 100,000/. Upon the expences of. the general Civil Establishments of the Navy there was no in. crease, and in some would be found a considerable diminution. Had it not been for the additional nenther of men, and the in. creased, price of prpvisions, there would indeed have been no ad vance upon the estimate of last year. There was a difference in making out the present estimate from all preceding ones.— The wear and tear of the navy had usually been charged at so Much per man. But the Honourable Members for Aberdeen and Ablution had pointed out the aukwardness of this mode last year, and it had now been thought much better to make the estimate by the quantity of timber and other ma- 1 terials used in the wear and tear of ships. Upon this and the Navy Ordnance there appeared a diminution of 320,000/. ; but there was, upon the aggregate of these two heads, a sav ing of 30,0001. The charge for ordnance had been transferred to the ordnance estimates, and the Honourable Member must expect to fi n d a correspondent increase in thatdeparnnent when it came before them. There was one item, for the charge of ships building l e 'Bombay, which he would explain. It had been found OA the quality of the ships built there was so ad mirable, and the materials and workmanship being found neither deficient nor more expensive, it had been determined to continue the practice. In the extra estimate there was ano ther sum which required explanation. It had been stated last Fear that the Contractors for the works at Sheerness, if al- 1 owed to proceed with their completion at a quicker rate, so as to have them finished in four years instead of ten, would . abate 14 per cent. upon t h e c on t r act, whi c h would reducei it from 921,0001. m 730;000/. This proposal, so beneficial to the public, had been closed with, and in consequence they should i!ave to call upon the House instead of the usual sum of 50,000/. tor 1 50,0001. There would also also be an additional sum to' be • vote( for the Break Water. It was now found advisable' to employ a greatee number of men upon the works. This en crease, together with the others he had mentioned, would make t1 ! 0 apparently large excess over the Estritate of last year of ?2 1 ,000/. But the real additional expence reduced itself to ° O ,OOO/. The great causes of this increase were, the .addi tional 1,000 Men, the ,increased price of victualling for the Navy, and the providing 'thr the more rapid progress of the !corks at Sheern es s. Th e G a ll an t Officer, concluded by mov ing a resolution for granting 30,000 Men to be, employed in the Sea Service, for the yeeir including 9,t)00 Royal Martnes. bar: HUME contended that no case had been made out to Justify the keeping up so large an establishment us ours. The state of the world was much that the British fieg would be as much respected at the must-head of a frigate, as at that of a man of war. The [lon. Member again referred to the Finance Report of 1817, and the establishments of 1792. lie com plained of the system of officering the Navy, and of the manner in which the pension list had been augmented since the end of the war. The lion. Gentleman, after ,offering some further objections, said, that he would not move for a reduction of the number of men, though he conceived he had made a statement which would warrant such a proceeding. Sir G. CLERK replied. The reduction which took place in 1822 , rendered it necessary to provide for those who had claims upon the service. As to the.Widows' Pensions, they were assisted during the war by the officers on full pay, but since the hurthen was unavoidably thrown upon the public. The 'acne fugue be said as to the out-pensioners of Greenwich Hos pital. As to the difference of promotion between the Marines' and the Officers of the Navy, 'the former received their commis lslons wi t h out any c l a i ms, t h e l atter as a rewar d for merit, and the devotion of their lives to the service from their youth to a Period when they could not acquire any other profession. The clerks who entered their office in 1817, had by 'stipulation a Progressive incr e ase of 101. per annum to their salaries since, ant i thus another part of the Hon. Gentleman's objection was °Pciated. The expences undertaken at Sheerness were de s igned to save the necessity of incurring a greater expence. _ The first Resolution was then put and carried ; as were also all the others, some of which were the subjects of occasional discussions, in which Messrs. II OSKISSON, CIIOKE It, nUAIE, 11. 1. Corr 's:, and several other Members bore a part. The CHANCELLOR of the EXCHEQUER, in the course of conversation, expressed himself favourably disposed to the Plan of relieving the Half-pay of Navy Officers from a small tax imposed upon it for leave of absence. The Resolutions were ordered to be reported to the House, and the House resumed. PROMISSORY NOTES BILL. The CHANCELLOR of the EXCHEQUER moved the second reading of the Promissory Notes. Bill. lie adverted to fyroposition which had been made by the lion. 111 ember for piewton—that one pound notes of the Bank of England should be established as a permanent part of the currency. Such a measure in its full extent he would regard as an act of injastice to the Country Bankers; but it had been suggested to him that with some limitation of the proposition it might be made sub. fervient to the success of the measure no's before the Douse. The limitation which he would propose, and which he intended to introduce as an amendment, was that instead of confining the issue of one Pound by the Bank of England in common with country banks, to the date of the sth of February, the flank should be permitted to issue new notes till the 10th October next. The object of the modification was to afford a facility to country bankers for the gradual withdrawal of their notes. He did not however mean that any national one pound notes should be current longer than the stated period of three years. Alt. ELLICE had voted for the Bill; but without con. 'Wing in the firmness of Government to carry it through, and maintain its principle. Whit object could be gained by this departure from a principle which had produced the most bene. "cud results. The suppression of one pound notes had saved numbers from Tyburn ; and after their withdrawal, why re-pro. tge their introduction. He could scarcely believe his ears._ o, measure was less defensible than a resort to the system of 'sluing small notes, and unless there were circumstances of the greatest necessity to justify it, the Bank Directors ought to be 7r4ined for their conduct. Though he were to stand alone ;f t opposition, he would divide the House upon the Amen rn era . Mr. BRIGHT thought that the Amendment did not go the enough, and that they would be justified in calling on ' 4l e. Chancellor of the Exchequer for its extension, as ne. ( twisty to t h e cou ntry.. It, proved . that the minority were tight in thei r opposition to the Bill."Kb The country could not °tar its operation, and it wait not yet too late to arrest the evil, nit LO suit the circulation to the circumstances of the king. loin. Nothing but the issue of. Excheq9er Bills could relieve th e tweet:sides of merchantss,. whom a was their duty to "IP. The -Bank had. laid out money on Exchequer Bill s, t how did that serve commercial interests ? The distresses of 79 k were quite analogous to the present, as would be seen by reference to the history of that period. Those distresses were completely removed by Mr. Pat's issue of Exchequer Bills, which not on l y achieved their main object, but were profitable t° tie TreasurY. no therefore called on the country at this ,trying take iefoge in the Wisdom of Mr. Pitt. Mr. 4u. ' 4 § l SON argued against the inconsistency of re. commending an issue of Exchequer Bills, and at the same time condemning the Bank for purchasing th ose which had been issued.: Without purchasers, of what avail, were Exchequer Bills ? The Hon. Member for C f oveutry would impeach the Bank Directors for the re.issue of one-pound notes, though they had the sanction of the Legislature. He could not con ceive any thing illegal in restaging the re-issue after a vo luntary cessation. 'Mr. ELLICE explained. lie merely said the Bank Direc tors ought to arraigned—but he did not say impeachrd. Mr. HUSKISSON said, that circumstances justified them. When they had coin sufficient to answer their purposes, they were anxious to avoid the issue of notes, as a saving of expence. They would withdraw their small notes us soon as was con sistent with circumstances ; but as the country bankers were suddenly withdrawing their paper, it would be necessary to substitute some other circulation. As there was danger that country bank notes might be withdrawn more rapidly than sovereigns could be supplied for them, the proposed amend ment was only facilitating the operation of the Bill. Sir J. NSTROWESLEY thought that Ministers had been acting upon theory, but the wants of the people would compel them to abandon the principle of their Bill, and to administer practical relief. Their case was rather hard between the wants of the people on the one hand, and a little club of the Opposition behind him, who would be sure to be down upon them, for abandoning the principle of their Bill. He did got like acting upon principle.—(A laugh.)--He mean that he did not like acting upon mere theory. He could conceive that at a future day the story of this Island might be thus told—lt was once called Lilliput, and governed by dwarfs; subsequently it was inhabited by giants, and called Brobtlignag ; but at last it was the Island of [Apure, and ruled by philosophers, who made it the insignificant spot to which it was reduced by their counsels. The Chancellor of the Exchequer was now aban doning the principles of a metallic currency, and retaining for circulation notes which, of all others, were the easiest tube forged. For his own part, he would never wish to see one pound notes in circulation, but they were necessary to mane. facturers, and country notes were preferable for use to those of the Bank of England, because the former could not easly be forged; but, the latter could. He objected to the circulation of sovereigns, inasmuch as they were very liable to being Sweated, down and counterfeited. Mr. HUDSON OUR NEY approved of the amendment, ns the only means of carrying the measure without mischief. He had known .a country banker, who, within a few days, had paid sovereigns three times over for 13,0001. of his own notes, having twice re-issued them, and on receiving them back the third time, he threw them all into his own fire. Mr. (MIN'S said, that country bankers withdrew their notes only because the issue of stamps was stopped. He would not oppose the measure. 31r. CA LCRAFF was for allowingg, country bankers a con current power with the Bank of England till the 10th of Oc tober. Mr. TIERNEY assured his Hon. Friend that *rough the whole of the discussion on the important subject which then occupied the House, he had felt much anxiety, and although he had not spoken he had listened with attention. It was not a party question, and he supported his Majesty's Ministers upon their first proposition: - He could not help saying there had been a departure froth the orinal' subject. There had been a wavering at a time when firmness was most wanted. The original propOsition, was to. widen the metallic currency, which he considered a most desirable object to be attained.— The measure then proposed was a - deviation from that plan. The Bank were to have nine months to make a hoard of 14 notes. It had been said bank notes and gold coin of the same value would not circulate together. That was not a new doc trine. It had been proved a hundred years ago that bad Cur rencv would drive out the good ; and itishakzere true, what was to become of bank notes wi • circulation The Right Honourable , sage sent by Burke to Pitt—Tell Pitt if fie he will not have a guinea in the country. tat dicta must not the gold give way to the notes to b) nu:ailed up by the Bank ? - He did not see how they could keep up war prices and have. a metallic currency. The fact was, the panic had been brought on by the acts of the Government. When the country was in a state of opening prospe rity, Government pushed their measures to extremes. Why was the rate of interest reduced ? Why.did the Bank advance money on securities ? Who was to be accommodated ? The country Gentlemen were to be enabled to keep up their rents. When the rate of interest was reduced, men were forced into speculations. By running up every thing, and running down ever thing, the country had been plunged into an abyss of dis tress and ruin. The crisis had been brought on, it was said, - by overtrading.' What was overtrading but unsuccessful advert-. cure. With respect to the relief to be. afforded in the money market, he could not conceive the object could he answered.— By the arrangement with the Bunk, they would afford relief to the wrong trutn., , Ile preferred the measure resorted to on a former occasion, namely, the issue of Exchequer Bills fUt the relief of distress. lie could not well believe that a gentle man in the country had burnt thirteen thousand pounds. He could reasonably suppose that a person mightbe nut of humour 'ith Banking and wish. to give it up, but that he should relieve any disappoinitnent he might sustain by burning 30,0001. in notes, was most extraordinary.—Lilere an Honourable Member reminded Mr. Tierney that it was 13,0001.]-.-He was told of the distress of the country: Was distress to be cured by burning 13,0001. ? Things, it was said, would come round; be had no doubt thin gs would come round, and that the Gen. tleman who put the notes in the fire would rake up the ashes and find the Money again. • Ile believed the country bankers had indulged in an usurious system, and be now hoped to see it 'done away: He thought the best arrangement in commerce was that in which the Government .had nothing to to, but if , they would interfere, let them do that which would lead to a wholesome state of things. • . The CHANCELLOR of the EXCHEQUER did not rise for the purpose of extending the debate, but he felt anxious to say one or two words on that, which had been said by the Right Hon. Gentleman,' urthe Government In -its tlejtlings with the Bank. The meaSure of the dead weight. originated with Go vernment. They were respon s ible for the Bank issues in 102.1, but with respect to the Bunk lending money on stock, so far from that measure having been adopted by the Bank at, the suggestion of the Government, he could assure the Right Hon. Gentleman that the GovernMent never knew the Bank had adopted that course Until they received information from them on the subject. The Government was not responsible for the acts of the Bank: They had not that controul over the Blink which many supposed. He thought Gentlemen' should not charge the Bank with nets which were - exclusively the acts of Government, and also that they ought to , abstain from. making the Government responsible for acts of the Bank. Mr. ELLICE said - he should not divide the House on the question.' • The Bill was then read a second time without a division, and committed for Monday. WEST INDIA COLONIES. Mr. GORDON begged to know from the Hon. Member op., polite, whether it was the intention of Government to act upon the Report Of the Commissioners of Inquiry into the Criminal and Civil Courts of some of the West India Colonies ? Mr. W. HORTON said he was not able to give an imtne diate answer to the question, as Government was' waiting for a fresh report, as matter for further consideration ; but -he could say, that Governmeht intended to, take some steps on that al ready obtained. The Other Orders of the Day were then disposed of, and the House adjourned at HALE•PAST ONE till Monday. . UNIVERSITY INTELLIGENCE. OxronD; FED. 17.—The ViCeXhancellor has fixed Wed nesday next the 22d inst. for the Election of a Burgess to re present the University in Parliament, in the room of Mr. Heber. Mr. EsteOurt will now be returned without opposition, the friends of Sir Charles Wetherell having declined the contest. The Examiners appointed by-the Trustees of Dean Ireland's Foundation have given notice, that an Examination will be holden in the Convocation House, on Wednesday the Ist of March, and the following days, for the purpose o f e l ect i ng a scholar on that Foundation. The Scholarship is open to all Members of the University who have not exceeded their SiXteentli Term. o _s, On Saturday last Henry Le Mesurier was adulated aetuQl Fellow of New College. • On Thursday last the following degrees were conferred : Masters of Arts.—William Woodley Cerjat, Trinity, Grand Compounder; 11ev. Charles Henry Grove, University, Grand Compounder; Rev. George Childe, .Magdalen Hall ; Rev, John St. Vincent Bowen, Brasenose. , Bachelors of Arts.—Mark Grigson Butcher, Brasenose ; Edmund Roy, Pembroke; Robert John William 'Wright, Trinity ; Hon. Lloyd Kenyon, Christ Church. Eccksiastical Preferment.—The Rev. J. Poore, D.D. to the Vicarage of Rainham ' Kent, void by the resignation of the Hon, and Re v . G erar d Noel. VAUXHALL GARDENI3.—These beautiful Gardens, the boast of Englishmen, and the wonder of all foreigners, will be conducted next season on a most magnificent scale. IVe un derstand that it is the intention of the Proprietors to render the musical department, what it once was, when the most eminent singers of the day used to be engaged.—Bishop is to be the composer and director of the orch es t r a ; liraham and Hiss Step lens are named among the , vocalists, who will at once esta• blish the respectability of the plate, and pave th© way for other eminent performers. Charles Taylor is engaged, and De Begnis is spoken of to strengthen the comic department. We bIU&Il not hesitate, as far as in us lay, to frustrate e‘ery attempt Ministers shall make to shift from their own shoulders any part of the responsibility which they have incurred, in onsequence of the unparalleled distress that now pervades, and must for some time yet continue to pervade, every branch of ;he trading and manufacturing interests of the kingdom, and which we have said) and now repeat, arose entirely from their mea sures. The Earl of I.lvEttroor,, in his speech last &ght, reviewed these distresses, and drew the most pathetic pictures of the direful effects of what he calls over-trading, and of the miseries the lower classes endured when a great country bank failed. These he contrasted with the beneficial effects of a metallic currency, resting upon the solid basis of gold, in order to skew what effect was to be produced by the measure's then under discussion. The compla cency with which the Noble Lord discharged his duty, was truly astonishing, considering how deeply implicated he and his-colleagues were in producing that distress, and compelling merchants to find employment for their capital, in " rash speculations" and over -trading. Whilst Mr. CANNING- was. occupied with Fo reign Treaties, and conducting with the utmost skill, delicate negociations with European na tions and the new States of South America,another pOrtion of the Administration seemed to have fallen asleep, and to have been utterly regard . - less of the commercial distress that was spread- Mgin every directiuni and threatening total , ruin to English trade ;, a distress lin t im putable to rash speculations, hut to rash measures, not originating wit h ,those that en dured , the evil, but with those whose situ ations placed th i pm beyond its reach, except so far as the p u blic voice might afterwards be raised in condemnation of the policy which produced public disaster. We are satisfied AO believe, that the Minister did not foresee the.evil the was preparing when the policy we deprecate. TO THE PROPRIETORS OF EAST INDIA STOCK. LADIES AND GENTLEMEN, ASECOND 'VACANCY 'having occurred in the Direction of Your Affairs, by the Retirement of your highly respected Director, JOHN HUDLESTON, Esq., I hasten to make known my intention of redeeming the Pledge given in my Address to you'of the 16th instant, by proceeding on this occasion to the Ballot. Having already submitted the grounds on which I presumed to, solicit your favour, in my Address of. the 6th March, 103, I shall not again intrude on you with any detailed statement of my pretensions, but shall content myself with repeating the assurance which I then gave, that in the event of my being placed, by your Suffrages, in the honourable and important situation to which I aspire, no endeavours on my part shall be wanting to prove myself worthy of your confidence. I have thelionourto be, Ladies and Gentlemen, Your very faithful and obedient Servant, HENRY ALEXANDER. 37, Upper Harley-street, Feb. 17, 1826. Mr. ALEXANDER'S COMMITTEE will ait daily, at the City of London Tavern, where Communications will be thankfully received Pit ICC OF STOCKS THIS Bank :Stock._ 3 per t'ent. Red. 766 7A Gi if : 3 per ( 'ent. Cans 3A per Cent. Ifitto Red B4 un 4 per tent. New 934 Bank Long Ann 191 A India Stock Ditto Bnnth. South Sea Stock PRICES OF FORKION Austrian Btls, 5 per cent Brazilian lids 11111 Scrip Buenos .Ayres lids Chilian, lids, 6 per cent — Colombian lids 1)o. 1024 44i 5i 561 6. 1 ; Danish, 6 per cent. • • Do. 18 - 25 lireek ll~ls Do. 1825 Guatimala .. Mexican lids 49 Do. 1825 PRICE OF IRISH Rank Stock - 240 Gov. Deb. 3A per cent. 4 per cent. New,tio....32iiig Gov. Stoek, per et—. 814 Consols 3 percent. 9 Royal Canal Stock Grind. CAW Stock Ditto Loan, 4 per cent. Ditto Ditto, li per cent 111 Y AT ONE 0-CLOCK: Old Annuities New Ditto 1040.10. par 1 pm. Ditto t►OI)!. lid Ditto Small lid. Ditto Advertised Bank for Acct. India for Aces.. Cons. for Acct. NDS AT ONE O'CLOCK. Mexican Scrip Neapolitan, 11124 Neapolitan Scrip Peruvian Bonds 3 l 1 . , Do. . Scrip • Portuguese Bonds . Prussian, 5 per cent. Ditto New Russian. New, t p. et. 76i 7i Spanish 11121, A p. c. lq 11 10t 1103 • 7 11 French Hewes, 5 p. c. —f. --c. Exchange ... —f. —c. —3p. c. . -f• —c. ---- Exchange •.. ---f. —c. iTOCKS, VEIL 14. Mining Coin Pan y St. Patrick Inauranm National ditto Ilibernian Bank 4 dia. Pith Shares Patriotic ditto Royal Irish Mining Na'. Brighton' ' llibernian Gas Company PRICES OF SIIAUES AT ONE O'CLOCK. . , Per Share. A nr,lo-Mexican Mining Comi)anr ' llrittsli"Tron Company - • 12 12 Chilian :Alining Company • .6 Colombian Mining Company Pasco Peruvian Mining Company . . - 5 l 5l 5 Pouisi La Paz and Peruvian Mining Association Thdpuxahua Mining, Company„ . . New United, 'lintiean 'Mining Company• l3l 1 . 2. Liverpool and Manchester Railway Company - - • - • 23- r. ( N N 1 1 I I,S. Au it I ED. Dun. 3 Gottenburgh 11011 ‘I'ATIOt AT I,ON 00. N BRIDGE TO.MOR 110 W. if orning. 37 minuteb idle 11. j Evening, 0 minutes after 0. TH E SUN. sorrm ls DicEiti; F4L.CUIf -41113 EAT ? LONDON, SATrIID3r* EI'EAriNG. FEBRUARY 18, 1828. was adopted ; and had he come down to' Parliament, and confessed his error, and pro posed a measure adequate to the great and over powering emergency of the occasion, we would have been the last to raise a voice against him. We are only desirous to see the saddle put ' upon the right horse, and therefore, when at tempts are made by Ministers to cover up the part they acted in this dramn, and to cast the blame upon the English merchant (who at least whatever may be said had a right to ruin himself if he liked it, and to speculate in any way he pleased without reference to the state or the public) we think it is high time to drop all feeling but that of a determined anxiety to show the true cause of all this distress, and tell at once a plain and simple fact, that the policy of the Administration worked all the evil ; a fact which a very slight knowledge of the financial history of England for these last few years would render indis putable, and place beyond the reach of contra. diction or of gainsaying. The remote cause of the present distress is the National Debt, and the stimulating cause was the means taken to force up the price of Stocks, and keep down the interest money, when a reduc tion of the interest of the National Debt was in contemplation; that is the truth !! Frankfort Papers to the 11th of February, altd the Allgemeine Zeitzing of the same► date, were received this morning. The former is totally devoid of any interesting matter. The lot lowing extract from. the Allgemchze Zeilung re fers to the Money Market at Frankfort, and which it represents AS in a state very little better than that. of London. Steps are about to be taken in order to avoid the distress, that it is feared will necessarily ensue:— FnAwKronr, FEB. 6. At the latter end of last week, the heads of our principal bank. ing houses had a conference, to consult, it is said, on the best means of averting the future dangers that threaten our place from the state of the money market and of commerce, and to remedy the evils which already manifest.themselves. Now as the last Lottery Loan, negociated by the house of Rothschild for the Grand Duchy of Besse Darmstadt, is considered as a real calamity for our exchange, it was a point of special consi deration how this evil might be alleviated, and whether it could be prevented from spreading, by endeavouring to prevent the continued fall of paper, and to make advances to the holders that they may not be obliged to sell their paper at any price. The result of the deliberation is not known, but it seems that there was a difference of opinion which haunted the adoption of a definitive resolution. It seems that it was however determined ibr the present to take paper in depAt at a certain rate ; and with respect to the Darmstadt subscriptions, as they arc called, that the bankers should with draw from circulation what they hold, in order not to increase the mass in circulation. It remains to be seen what effect these measures, if they be really carried into execution, will have on 'Change ; but the notice of them has not yet done any good, business on 'Change being almost wholly at a stand. The following is a copy of the Document which we yesterday stated to have been issued by the Emperor of BRAZIL as a Declaration of War against the Republic of Buenos Ayres : DECREE. " The United Provinces of the Rio de la Plata, having corn. menced hostilities against this Empire, without provocation, and without any express declaration of war, departing from the forms in use among civilized nations, it is due to the dig nity of the Brazilian ,nation, and the rank she ought to hold among the Powers of the world, that , L, by the advice of my Council of State, decline, and I do hereby declare, war against the before-mentioned Provinces and their Government, ordain ingthat all possible hostilities take place against them, both by sea and land ; authorising, the equipment of ctuisers and arum. ments of whatever kind my subjects may think proper to en gage in against this State ; declaring that all captures or prizes, of whatever kind or quality, shall belong wholly to the captors, without any reservation for the public treasury. The Board of Privy Council is charged with the execution of this Decree. " Palace of Rio de Janeiro, Dec. 10, 1025. " By order of t 4 The EMPEROR. " Vinonde de SANTO AM A RO." Yesterday, the Lords of the Treasury , held a Board in the Treasury Chambers. Advicei have been received from the Mauritius to the i 7th October. The Governor, Sir Lour ItY Core, had issued a notice, announcing that the Royal Assent had been given to the Mauritius Trade Bill, and expressing his conviction that the representations he had been enabled tomake, on the part of the inhabitants, of their having abstained from all attempts to revive the slave trade, had materially contributed to the SUrCeSS of that measure. His Excellency concludes by congratulating the Colony on the successful ter mination of this long-pending question, and irust ing the inhabitants will manifest their gratitude for the boon they have obtained, by continuing in a strict observance of the laws. Yesterday at one o'clock the Duke of Youx, attended by Sir CUMILES LONG and Mr. WNATT, the .Architect inspected, for a considerable time, the progress of the building of his Royal ness's new house. in the SMALL NOTE BILL, an indemnity deuce IS inserted to protect the Government, the Com. missioners of Stamps, and their agents, from the consequences of an illegal refusal to issue stamps for one . and two pound notes . , from ,the 3d of Fe bruary to the passing of the Act. The NAVY DEUT unprovided for on the 31st of, December last, appears, by a Parliamentary return, in have been 1,478,5201. 17s. 74d. Mr. BANKEs has heen elected to represent the county of Dorset, in the room of Mr. MORTON PITT. TILE DuKE or DEVONSIII R.E.—On Thursday c f ra l o i e a r e' vv Di e r d ec n t e o s r d , a i y n , the list his Orace le ft town for Yorkshire, very unexpectedly, .ip consequence of the sudden and dangerous indisposition of Lady resignation ,took ..place. Ha os arr ot i Tmot e lf t eo la as c c wt.; iv:el: l: ti e as, :mo. st , 0 . t h Aos o r ir. . lnaoy i t e ti, : i:sl of rafisx h te is id tr n yester d a y, viz. that of Mr. HUDLESTON, but the period of election consequent on that event is not yet fixed. TIIE FUNDS. Consols—Yesterday, 'cimed After the Close This morning opened 7511 751 The Market opened this morning with every appearance of reviving spirit, from the general impression occasioned by Lord LIVERPOOL'S speech. However difficult it may be to dis cover the ground an which any additional relief can be anticipated from his Lordships' remarks, the effect produced on the Stock market may be said to have been almost electrical. From 75f, at which Consols began, the price advanced to 76a, and at one period to 76-4. At 1 o'clock, the price had receded to 74, but still with a firm market. The quantity of business has been great, and that without the stimulus of heavy speculation, no large operation having yet been effected. Money Stock has been comparatively scarce— and at a somewhat better price for Monts, than for Account. Notwithstanding the stimulus given to the Stock Market by the purchase of Exchequer Bills, and the cheering Speeches of his MA.) .sir' s Ministers---tl►e distress of the commercial and trading part of the couwn►unity has hitherto ex. perienecd not the slightest alleviation . In the Metropolii, pecuniary difficulty con tinues to increase, while, from every part of the Country, each successive post brings ad vice of aggravated embarrassment. In Manchester, llillf a dozen stoppages are an. nouuced by this mo.ning's post. These con. cerns are not, as is said, of first rate magni. tude—and we anxiously, hope, that they may not be the precursors of more seri. ous failures. The proposed sanction to the Bank of England, with respect to the issue of one and two pound notes until October next, appears to he a measure adopted in con. templation of the ,demand for Gold Currency, exceeding the possible supply within that period. If,in the manufacturing districts Bank of England small notes are acceptable to the people atlarge, more time will be afforded for establishing an adequate supply of gold to replace the 'vwciturn produced by the contraction of Country Banker4' paper. Bank Stock India Stock India floods • - 3 per Cent. Consols (Money) Ditto (Account) 3 per Cent. Reduced . ai per Cent. Reduced . New 4 per Cent. - . Exchequer Bills, £1000) . ;LIM ‘ c put 1 pm. X 100) FOREIGN. 221. 1 2 dls. par. 74. 77. 941. Every description of Foreign Security Ints been stimulated by the improvement( ht Consols. Colombian, 18'24, 461; Mexican ti per Cents., 591 ; Peruvian, 311 ; ))anish, 53 1; Greek, 18/ ; Spanish, 11 ; Russian Bonds, 77. SHARES. The little business effected hi this Market is at ratitor better prices. FASHIONABLE INT ELLIGENOE. TH '~ IINO. . _ WlKoson, Ft:n. 17.—Tbe Weather being more. mild and' favourable yesterday afternoon, his MAJEsTv left the :Royal Lodge at half after two o'clock, accompanied by Sir Samuel in his pony phaeton, for an airing in the Great Park. A second phaeton, containing a portion of the Royal Suite % followed that of Ids Majesty, which passed by Cumberland. Lodge and through the new plantations, visiting Virginia Water, the new Lodge, and Cranhourne, and returning by Sandpit ante to the Royal Lodge at live O'clock, having been absent two hours and a half.—Last eveninj his Majesty, enter tained his visitor Sir S..llttlse, and his Suite, at dinner. . ARRIVALS IN TOWN. The Earl and Countess Gower, from West Hill, .Surrey Lady Dynevor, from Barrington . Park, ;Oxfordshire ; tor:I George Lennox, from Sussex; Sir Jacob Astley, Bart. from . Norfolk ; Edward John Littleton, Esq. M.P. from Teddesley Park, Staffordshire; General and Mrs. Bradshaw, from . Brighton; Mr. and. Lady Catherine Boileau ; Sir Ralph Att. struther, Bart. from Suffblk ; Colonel Dalrymple, Irma Sur. rey ; Lord Lilfbrd, from Northatiiptonshire. Prince Leopold dinecl with Is iloyal Sister, the Duchess of lent, at her residence in the jitng's Palace, li.eusington, yesterday. „ . SHIPPING INTELLIGENCE. [FROM LLOYD'S.] DrAt, 17.—Prom about day.light it blew a gale from the S.W:—Tbe Electra and Indian let go a second anchor, and appear to ride well. The Brothers, for Gibraltar, lost anchor and cable, and went for Rarnsgate. The Wilhelmina and Marla for Buenos Ayres, passed through, and went for Mar.: gA te lioads it is now moderate, with the wind about _„ ..`PORTSMOUTiI, FEB. blew tremendously hard all last night in the Channel.. His Majesty's yacht Herald, with the Marquis of. Hastings and Suite t have put back. The fol.. lowing outward hound vessels have also put in for shelter without having received any damage (with one exception), viz., the Briton, Richards ; Faith, Delaite ; Georgiitna, Warren f Asia, Brown; Harriet, - & Albkta, Shadkrtb ; Cele rity, Thornson, and Titania, Dulm; the latter with loss of bowsprit, and sails split. Sailed the Eclipse, and Abundance, for London. PLynov Ftri. 16.—Wind W.—Arrived the Margaret, Ilownian, from London for St. Michael's, with damage, and loss of anchors and cables. PALMOuTtt FEE. 10:—. Wind S.W.—Arrived theErlipse, 2.. , Weasels, and Resent Packet, Collins, from London for Si. Illichael's. Sailed the Eleanor, Stephens , for the Alediterritheati. CPWEst FEN. 17.—Wind W,R.W.,-Arriveti tho Ctivia. peeke„ ---,...—.., from Uataila for itotterdam in 140 JiaPIA Vety leaky. I , Lt vt3trpoL, PEa. 18.—Wintl S.W.—Arrived the General Brown, Sliarp, from Charlestin . and the Belgrare, FieuiPii> , from Paraiba, .. artArEavkm, Pr.t.l7.—Saffed the Ilettotinth l e ConiPanY . S ship George the ' Fourth, Barrow; and Thomas Coutts, .Cipy., atie, for China, — . ArtiYed oft'Poolabe Doininiea, Wider. fromDemerara: Arrived at Portsmouth the Susan, liurridge, front Gibraltar. The Victory, James, from Corti to ----, was dtiVen on 1/443rc, near:Waterford, on MonallYlb9t "Pact,Ftl to be got alt. . .